CPA Australia, one of the world's largest accounting bodies, has challenged undergraduates to get a head-start in their careers with the launch of The CPA Big Break Project 2012.

Now in its third year, The CPA Big Break Project gives undergraduates in Australia and New Zealand a unique opportunity to tackle a real business problem for a not-for-profit organisation.

This year the subject of the competition is Make-A-Wish, an organisation that brings wishes to life for children with life threatening medical conditions.

Either as individuals or in a team, entrants will not only be given the chance to kick-start their career, but they will also have the opportunity to receive a CPA Program Scholarship, $20,000 in cash for themselves and $50,000 for their tertiary institution.

In the first round, students will be asked to review Make-A-Wish using a SWOT analysis (Strengths, Weaknesses, Opportunities and Threats).

Winners from each Australian state and New Zealand will receive an Apple iPad, a $1000 clothing voucher and entry to the final round.

In the final round teams will be flown to Melbourne to present their entry to a judging panel, with the overall winner announced at a gala dinner in Melbourne on October 3.

CPA Australia CEO Alex Malley said with the business world more competitive than ever, it is important that students are given every opportunity to get a foot in the door.

"As leaders of business it is our responsibility to help make this happen for the next generation," he said.

"The CPA Big Break Project gives Australian students the chance to address a real challenge, one that allows them to give back to the community, gain invaluable experience as well as the courage and vision to develop their own unique career path."

Granting wishes for children with life-threatening medical conditions, CEO Vici Funnell of Make-A-Wish Australia is excited to be involved in this year's project.

"To have the support of CPA Australia is fantastic because we always welcome fresh ideas and we are really looking forward to hearing from students on interesting ways we can increase funds to help us make more wishes come true," she said.